© JournalduGeek.com
Xiaomi is successfully diversifying into electric cars. As a reminder, this year, the Chinese brand launched the SU7, its first series of electric cars, in China. And for the moment, the signals are positive for the manufacturer. Xiaomi has just presented its results for the third quarter of 2024 and according to its press release, the market performance of the Xiaomi SU7 Series has significantly exceeded the manufacturer's expectations.
“The Group is continuously accelerating the production and delivery of the Xiaomi SU7 series. In the second quarter, deliveries of the Xiaomi SU7 series reached 27,307 vehicles, with monthly deliveries exceeding 10,000 units for two consecutive months. The increase in production capacity exceeds that of its peers, demonstrating strong competitive strength”, the brand also states.
Xiaomi also plans to deliver 100,000 electric vehicles by November, while the goal for the whole of 2024 is to deliver 120,000 vehicles. To accelerate sales, Xiaomi is relying on a network of 87 sales centers, which are spread throughout China.
200% Deposit Bonus up to €3,000 180% First Deposit Bonus up to $20,000But even if Xiaomi electric cars are off to a good start, this new activity is still quite far from being profitable. According to a Bloomberg article, Xiaomi would still lose the equivalent of several thousand euros per vehicle sold. And for now, the manufacturer is aiming for growth in this new business, but not profits. “We are confident that scale will generate profits in the future,” , explains Alain Lam, the CFO, as quoted by Bloomberg. In its press release, Xiaomi also indicates that it has “ample liquidity resources” that allow its electric vehicle division to “remain focused on developing technologies and products amid intense market competition.”
The group as a whole is doing very well. In the second quarter, revenue increased by 32% year-on-year, reaching the equivalent of more than €11 billion. And adjusted net profit increased by 20.1%. In the second quarter, Xiaomi shipped 42.2 million smartphones, up 28.1% year-on-year. And, based on data from Canalys, it indicates that it has managed to remain in the Top 3 of the smartphone market for 16 consecutive quarters.
📍 To not miss any Presse-citron news, follow us on Google News and WhatsApp.
[ ]
Before his PSG match against Brest, young Bradley Barcola attracts praise from the media who…
Before his PSG match against Brest, young Bradley Barcola attracts praise from the media who…
© Warner Bros After two particularly successful feature films, Stephen King's It Saga will be…
© Renault It’s always interesting to know where products that we can use on a…
The fire that broke out in the massif of Aspres Thursday, is now fixed. On…
À the origin of the The Mazan rape case, Dominique Pélicot had first attracted attention…